-
Asia has proven to be a steady engine of growth in the air and ocean freight markets as global trade continues to be volatile in the face of geopolitical tensions and high fuel costs, according to World’s Ocean & Air Market Update for April 2026
-
In the ocean sector, freight rates are trending upward across major trade lanes; market uncertainty to persist in the near term
-
Capital equipment and high technology are the fastest-growing niche markets for ocean freight while consumer and fashion goods are on a decline due to weaker demand
-
Global air freight rates were firm despite softer volumes as tight effective capacity, elevated fuel costs, and persistent geopolitical risk premiums are keeping spot pricing well above pre-conflict benchmarks
Asia has proven to be a steady engine of growth in the air and ocean freight markets as global trade continues to be volatile in the face of geopolitical tensions and high fuel costs, according to a report from DP World.
Looking at macro indicators, DP World’s Ocean & Air Market Update for April 2026 notes that global “manufacturing remains in expansion but easing confidence and widening regional divergences point to a more fragile growth environment. Europe has strengthened at the margin, the U.S. has stabilized, while Asia continues to expand overall, although momentum has moderated in some markets.”
In the ocean sector, freight rates are trending upward across major trade lanes, supported by capacity management and geopolitical disruptions.
The DP World report said geopolitical tensions and elevated fuel costs are seen to sustain upward pressure on freight rates and surcharges. Further, it expects market uncertainty to persist in the near term.
“Escalating tensions in the Middle East and rising fuel costs have led carriers to implement additional surcharges. Spot rates are expected to increase in the coming weeks,” it said.
Carriers are implementing General Rate Increases (GRI) as well as fuel -related surcharges, including Emergency Fuel Surcharges (EFS) and Bunker Adjustment Surcharges (EBS).
Meanwhile, the Middle East conflict is reshaping global container routes as carriers begin to reduce reliance on hubs and chokepoints in the Gulf. This means longer routes, which are “driving permanently higher costs and longer transit times.”
In terms of volume, Asia was the driver of ocean freight growth across all industry verticals, while Western Europe and North America continue to experience contraction.
Special Handling volumes deliver the strongest year-on-year (YoY) growth, underscoring sustained demand for project, out -of-gauge, and complex cargo. Capital equipment and high technology stand out as the fastest-growing niche markets while consumer and fashion goods are on a decline due to weaker demand in northeast Asia.
Air freight
Global air freight rates, meanwhile, were firm despite softer volumes.
The DP World report said tight effective capacity, elevated fuel costs, and persistent geopolitical risk premiums are keeping spot pricing well above pre-conflict benchmarks.
The MESA (Middle East & South Asia) region was the key distortion point, with partial capacity recovery but ongoing airspace disruptions and rerouting sustaining structural tightness and spillover pressure into Europe, Africa, and Asia Pacific (APAC) lanes.
Asia was the overall key growth driver with APAC outbound volumes continuing to outperform, driven by strong growth to Africa (+39% YoY), North America (+23% YoY), and Europe (+16% YoY).
Compared to 2025, the Africa–Europe corridor has weakened at the start of 2026, with bilateral flows declining. Latin American trade lanes also remain under pressure.
READ: Asia Pacific sea, air cargo markets emphasize flexibility in 2026
